Invoices are often the lifeblood of a small business. Invoices are what finalize a job well done. And they are what start the process of your company getting payment. Without payment, they lights get shut off. Let’s look at a few ways we can help keep the lights on this month!
Have Payment Policies For Clients
Clients are going to pay late. Not all of them, but definitely some of them. If you just expect payment for services rendered immediately following, you are going to live a frustrated life. Make sure that clients understand when payments are due and make sure that you send out reminders when payments are late. Sometimes collecting a payment is merely an act of reminding a busy client, while at other times it is enforcing a policy to a client who may think they don’t have to pay. In any case, it definitely shows you make a reasonable effort to collect via a clearly stated policy. It will also help show consistency with enforcing your policies on payment.
Make Sure You Define Charges
Not all charges may be the same. If you are a design company, some charges might reflect purchasing additional licensed images or paying for a developers time. The client needs to see full transparency so that it doesn’t appear you are simply stacking the bill. It removes any guessing which could lead to a client disregarding the invoice until they come up with a way to ask you for more details. The more details you provide, the less questions you get.
How To Pay
I can’t tell you how many times I receive invoices and they don’t have the methods of payment. This causes me to have to email them and ask them. This takes time. This delays your payment. You want a person to know exactly how to pay a bill upon opening that bill. If you take checks and Paypal, clearly state all the directions (like who the check is written to).
Contact Information
Make sure you are easy to contact. If people need to reach out regarding billing questions, who can they talk to and when is that person available? You want them to be able to reach out in the moment so as not to put your payment on the backburner.
How To Invoice Like A Pro
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